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L'Oreal Falls in Paris as Asia Slowdown Drags on Luxury Growth

  • Company reports weakest emerging-market growth since 2009
  • Luxury unit slowdown is temporary, L'Oreal CEO Agon says
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L’Oreal SA fell the most in two months after third-quarter revenue missed analysts’ estimates amid slower sales of $62 Kiehl’s moisturizers and $110 Lancome scents in Asia.

Sales rose 3.7 percent excluding acquisitions, disposals and currency swings, the world’s largest cosmetics maker said Thursday after European markets closed. Analysts predicted growth of 4.5 percent, according to the median of estimates compiled by Bloomberg. The shares fell as much as 4.9 percent, the steepest intraday decline since Aug. 24.